ASSESSMENT COURT

Waipa Post, Volume 32, Issue 1785, 22 July 1926, Page 8

ASSESSMENT COURT

08. ECTIOXS HEARD AT TE AWAMUTU. There was a large assembly of farmers from various parts of the Waipa County at the Te Awainutu Court this morning when the Assessment Court (Messrs W. C. Hewitt. S.M., C. J. Potts and C. F. Storey) sat to hear objections to the latest valuations in various parts of the County. Many of the appellants, were represented by counsel while the Valuation Department was represented by Messrs Coutts, G. W. 'Hyde, and Gordon. Counsel and the valuation officers conferred beforehand on various points, as a result of which much of the procedure was simplified. Valuations were sustained in the following appeals: H. V. and Ralph Allen, Wilfrid Johnstone, William G. Kay, Allan R. Kay, Lyle R. Kay. In sustaining the valuations the Court explained that under section 45 of the amended Act, an appellant must within 14' days of the hearing place his property under offer to the Government at a figure. • If the Government refuses to accept 'the offer the price must become the valuation. V. M. Nolan. 1800 acres at Roto-o-Rangi: Counsel argued that though the capital valuation bad been reduced to '£29,056 the unimproved valuation was insufficient. His client would produce his books, showing returns for the past three years. Last year the returns were only £1452, without allowance to the owner. The valuation should be £13,000 or thereabout. George H. Bellamy;, public accountant, Cambridge, produced profit and loss accounts of Nolan’s property for the past three years. The returns for that period were: 1924, £1412; 1925. £1968; 1926, £1444. No deduction had been made for interest or owner’s labour. 'More manure had beisn purchased. and applied in the three years than previously, because the land was not fit to receive the manure before 1924.

Alfred W. Green, lately manager of Ruiakura State Farm of Instruction, said he had inspected Nolan’s farm this week. The farm was well managed, carrying cattle and sheep in wise proportions. Only portion of the farm was suitable for dairying. A greater area was being developed. 'Butter-fat returns were excellent considering the class of country. There was a lot of unproductive high country and swamp land. The farming methods followed w,er e quite satisfactory. Witness’s was an independent report. The carrying capacity of the property would be improved, by a continuance of Ithe present policy. James M. Hall, farmer, Roto-o-Rangi, considered a fair average value for the whole property was about £l2 per acre. He knew the district well. One farm there, of about 150 acres, had been sold recently at £2B per acre. That farm was improved and much better class than Nolan’s. Eighteen months ago Donovan’s property was sold at about £ll. I’t was better than Nolan’s, and comprised about 700 acres. There were about 200 dairy cattle on Nolan’s about 40 grown steers, and other young cattle. Nolan’s best land was worth about £2O per acre. There would be 150 acres of this class; about 140 acres were not worth £1 per acre; another 500 acres were worth £6 to £7 per acre; and the rest was worth £S to £8 10s per acre. The grand total, it was shown on this basis, was over £21,700, while in his rough valuation witness had previously said £12,000. Appellant. Vernon H. Nolan, gave particulars of the stock on the property at 31st. March, 1925. Hiis own valuation was approximately £l4 per acre, totalling £25,000. as against the Government’s valuation of £30,000. William A. Gordon, who valued, the property for the Department, gave details of bis estimate, made up as folloAv: Fifty acres at £l, 426 acres at £3 ' 500 acres ait £lO, 160 acres at £l2, 210 acres at £ls, and 470 acres at £2O; total, £20,798. 'With stock and improvements the total was £30,965. Cross-checking, the figure was £30,500. He allowed £7O worfth of land for a dairy cow. That figure was recognised

throughout New Zealand. This figure was based on an estimate of Is 3d per lb butter-fat. Then a farm had to produce three rents —6 per cent for 'interest, 5 per cent for maintenance, and 5 per cent for an owner’s personal exertions. The property would carry quite 300 more breeding ewes; the 50 horses on the place were excesisive. There were when he visited the property 13SS sheep, 361 cattle (including 200 dairy.cows), 8 pigs, and 50 horses. He considered the place was understocked. His estimate was based on what stock the property should winlter. The property Ishou'ld produce more than the £1440 shown as for last year. After, consultation the Court decided to fix the capital value at £l6 per acre for the 1816 acres; the unimproved value will be £19,800.